FASA

The City of Vancouver has agreed to purchase the nine-kilometer rail route from Canadian Pacific Railway for $55 million, according to a statement from CP.

Ports covered by the Global Port Tracker report handled 1.5 million TEUs for the month, up 4.4 percent from December and 21.4 percent from “unusually low figures” in January 2015, according to the National Retail Federation and Hackett Associates.

In a landmark deal, XPO will lease and operate distribution centers and manage inventory over the next 10 years for Trinity Health, a multi-institutional health care delivery system that serves 88 hospitals and 126 continuing care locations in 21 states.

The U.S. Federal Maritime Commission has received 18 ocean transportation intermediary license applications and changes for review.

The Danish ocean carrier is adding Sokhna to its portfolio of ports in Egypt.

Chris Welsh, Secretary General of the Global Shippers’ Forum told the ICHCA conference in Barcelona he wants an international forum to address the impact of ultra-large containerships and “super alliances” among ocean carriers.

Citing violations of federal export control regulations, the U.S. Commerce Department’s Bureau of Industry and Security has added a Chinese technology company and three of its affiliates to a list of entities prohibited from receiving U.S.-made exports.

A transportation and logistics services provider for the pharmaceutical, healthcare and consumer electronics sectors in Germany, trans-o-flex generates annual revenues of around 500 million euros.

Sens. Mike Lee and Amy Klobuchar wrote a letter to the United States attorney general’s office saying Canadian Pacific’s proposed takeover of Norfolk Southern Corp. could “limit the ability of the STB to protect competition.”

The independent containership owner and manager reported net earnings of $199.4 million on revenues of $819 million for 2015, year-over-year increases of 51.9 percent and 14.2 percent, respectively.